This compound is primarily utilized in the pharmaceutical industry as an intermediate in the synthesis of active pharmaceutical ingredients (APIs). It is particularly significant in the development of drugs targeting central nervous system disorders, such as anxiety and depression, due to its structural properties that influence neurotransmitter activity. Additionally, it plays a role in the production of chiral compounds, where its enantiomeric purity is crucial for ensuring the efficacy and safety of the final drug product. Its application extends to research settings, where it is used in studies exploring receptor interactions and the development of novel therapeutic agents.